Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 592 · 40 questions

Business tip (Money in, money out): Income = money coming in; expense = money going out. Keep every bill or receipt. Profit = total income − total expenses. If expenses are more, loss = expenses − income. Update the record the same day, before you forget.

1. 1.Arjun’s stall took in ₹210 on Friday, ₹160 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “a card order paid” is income (money in). (a) True (b) False
3. 3.True or false: “a card order paid” is an expense (money out). (a) False (b) True
4. 4.Rohan’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹10 (posters)
   Expense: ₹310 (stall fee)
   How much is the loss (in ₹)?
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) bus fare to the market (d) payment for a cake order
6. 6.True or false: “paying the stall fee” is income (money in). (a) False (b) True
7. 7.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
8. 8.Which of these is income (money in)? (a) money from sales (b) printing posters (c) bus fare to the market (d) paying the stall fee
9. 9.Ananya’s income was ₹160 and the profit was ₹60. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
12. 12.Tara’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
13. 13.Riya’s income was ₹290 and the profit was ₹40. One expense was ₹130 (sugar). How much was the other expense, for stall fee (in ₹)?
14. 14.Dev’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
15. 15.Lakshmi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
16. 16.Tara’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
17. 17.Diya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) bus fare to the market
19. 19.True or false: “buying paper cups” is income (money in). (a) True (b) False
20. 20.True or false: “money from sales” is income (money in). (a) True (b) False
21. 21.📒 Income or expense: tutoring fees received? (a) income (b) expense
22. 22.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
23. 23.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) buying paper cups
24. 24.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) buying lemons (d) printing posters
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) payment for a cake order (d) cash from selling plants
26. 26.📒 Income or expense: payment for a cake order? (a) expense (b) income
27. 27.📒 Income or expense: money from sales? (a) income (b) expense
28. 28.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
29. 29.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹330 (card paper)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.True or false: “bus fare to the market” is income (money in). (a) True (b) False
32. 32.Joseph’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (posters)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
33. 33.Kabir’s income was ₹470 and the profit was ₹90. One expense was ₹310 (card paper). How much was the other expense, for paper cups (in ₹)?
34. 34.Farhan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹200 (card paper)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
35. 35.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying lemons (d) a card order paid
36. 36.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
37. 37.Diya’s stall took in ₹330 on Friday, ₹200 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
38. 38.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
39. 39.Farhan’s stall took in ₹290 on Friday, ₹320 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
40. 40.Kabir’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?

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